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Boston Scientific to invest €30m in Cork RD&I
From IDA Ireland; Department of Enterprise, Trade and Employment
Published on
Last updated on
From IDA Ireland; Department of Enterprise, Trade and Employment
Published on
Last updated on
Boston Scientific Corporation (NYSE: BSX) today announced a €30 million investment in its Cork facility to accelerate the development and manufacturing of minimally-invasive medical technologies that treat patients suffering from cancer and peripheral arterial diseases around the world.
This research, development, and innovation (RD&I) investment, which is supported by the Irish Government through IDA Ireland, will further diversify the range of technologies developed and manufactured at the Boston Scientific Cork site, and is expected to generate more than 70 new quality, engineering and production jobs over the next three years. The Boston Scientific site currently employs more than 1,200 people and makes medical devices for interventional oncology, coronary artery disease, digestive disorders and severe asthma.
Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar TD, said:
"I am really pleased that the Boston Scientific Corporation has announced this significant €30 million investment in its Cork facility. This investment will allow the company to grow and develop its world leading technologies and ensure that it continues helping to improve and save lives. Ireland is globally recognised as a centre of excellence for the Life Sciences and this investment is a real vote of confidence in us and our capacity. I wish the team the very best with their plans."
IDA Ireland is tasked with attracting investment into Ireland by foreign-owned companies with a focus on jobs growth and industrial transformation in high growth sectors including MedTech. Today, Ireland has the highest per capita number of people employed in the European medical device industry.[1] The agency supports a wide range of multinational companies with operations in Ireland through grants and other business supports in compliance with EU and Irish legislation.
Martin Shanahan, CEO, IDA Ireland said:
"Boston Scientific has had a strong presence in the Cork business community for nearly 25 years. As the company grows and expands into more therapeutic areas through internal RD&I and acquisitions its continued investment in ongoing operations and highly skilled local talent is encouraging. This expansion is further evidence of the southwest region’s thriving MedTech cluster."
Boston Scientific first established its Irish footprint in 1994 and today is the largest life sciences employer in Ireland. With a workforce of more than 6,000 people across three locations at Galway, Clonmel and Cork, the company exports more than 12 million medical devices annually.
Sean Gayer, vice president operations at Boston Scientific, Cork said:
"We are delighted to be adding new quality, engineering and production capabilities to our Cork facility and contributing further to the strong MedTech sector in the region. We appreciate the Irish Government support through IDA Ireland."
[1] MedTech Europe Facts and Figures 2021. https://www.medtecheurope.org/wp-content/uploads/2021/06/the-european-medical-technology-industry-in-figures-2021.pdf
About Boston Scientific
Boston Scientific transforms lives through innovative medical solutions that improve the health of patients around the world. As a global medical technology leader for more than 40 years, we advance science for life by providing a broad range of high performance solutions that address unmet patient needs and reduce the cost of healthcare. For more information, visit www.bostonscientific.eu and connect on Twitter and Facebook.